Mayfair

The network behind Mayfair, <a href="https://www.reichandtang.com/" rel="nofollow noopener noreferrer" target="_blank">Reich &amp; Tang Deposit Networks, LLC</a> (R&amp;T), has <a href="https://www.reichandtang.com/2023/03/12/statement-on-protecting-deposits-2/" rel="nofollow noopener noreferrer" target="_blank">never experienced deposit loss</a> on insured amounts.

The FDIC has a long history of working productively with sweep networks for expanded FDIC insurance, with <a href="https://www.fdic.gov/deposit/deposits/brokers/index.html" rel="nofollow noopener noreferrer" target="_blank">detailed rules regarding the operating of deposit brokers operating sweep networks</a>. The SEC has also historically provided <a href="https://www.sec.gov/oiea/investor-alerts-bulletins/ib_banksweep" rel="nofollow noopener noreferrer" target="_blank">guidance and assurance regarding the use of sweep networks</a>.

Has a cash sweep product for enhanced FDIC insurance ever failed?

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